Tuesday, November 15, 2011

Citigroup will pay $20.5 million, and Deutsche Bank will pay $145 million. The companies neither admitted nor denied any wrongdoing in the matter.
The settlements are the latest involving the role of big Wall Street banks before the financial crisis erupted in late 2008.
Citigroup agreed last month to pay $285 million to settle civil fraud charges by the Securities and Exchange Commission that it had misled buyers of a complex mortgage investment just as the housing market was starting to collapse in 2007.

NOTE: IT JUST KEEPS GETTING BETTER AND BETTER… . $165.5 million TOTAL TO THE THOSE THEY MISLED WITHIN THE INDUSTRY; CREDIT UNIONS, INVESTORS, STATES ALL BENEFIT. BUT HOMEOWNERS STILL GET ZIP!!!!!!!!!!!